CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at Sanford C. Bernstein

Investment analysts at Sanford C. Bernstein initiated coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a “market perform” rating and a $145.00 price target on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 0.11% from the company’s current price.

CAVA has been the subject of several other reports. TD Securities boosted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their target price on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Wedbush upped their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, UBS Group assumed coverage on CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

CAVA Group Trading Up 3.7 %

Shares of CAVA opened at $144.85 on Wednesday. The firm has a fifty day simple moving average of $132.82 and a two-hundred day simple moving average of $105.93. The firm has a market cap of $16.60 billion, a PE ratio of 303.57 and a beta of 3.23. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, research analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 334,994 shares of company stock valued at $42,543,534 in the last three months. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Large investors have recently bought and sold shares of the business. Capital Research Global Investors grew its stake in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. FMR LLC increased its stake in CAVA Group by 0.9% during the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares during the last quarter. Two Sigma Advisers LP raised its position in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, State Street Corp raised its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the period. Institutional investors own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.